# AppLovin xStock (APPX): D-Score 48/100 — Moderately Decentralized

**BlockIndex D-Score: 48/100 (Moderately Decentralized).** AppLovin xStock (APPX) is a Layer 2 cryptocurrency using Other consensus. AppLovin xStock: Tokenized AppLovin equity exposure issued by Backed as a blockchain-based real-world asset certificate.

_Source: https://blockindex.ai/coin/appx · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 48 |
| Node distribution | 0 |
| Initial distribution | 25 |
| Governance | 16 |
| Age and history | 7 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Other (2025)
- Founder: N/A
- VC funded: No
- Max supply: N/A
- Circulating: 100,438

## Market data (as of 2026-06-19)
- Price: $464.04
- Market cap: $46.61M
- 24h volume: $774.49
- 24h change: -4.43% · 7d change: -4.09%

## About
AppLovin xStock (APPX / APPx) is a tokenized stock certificate designed to provide blockchain-based exposure to AppLovin Corporation equity. The asset is identified in the supplied summaries as a Backed Finance / Backed Assets product, with Backed Assets (JE) Limited referenced as issuer. APPX is not a native cryptocurrency network and does not provide direct legal shareholder ownership of AppLovin Corporation stock; it is a tokenized tracker certificate intended to mirror economic exposure to the underlying equity for eligible market participants.

Technically, APPX is a token rather than an independent blockchain. The primary structured data in the summary identifies it as a BEP-20 token built on BNB Smart Chain with contract address 0x50a1291f69d9d3853def8209cfb1af0b46927be1, while other referenced sources describe APPx availability as Solana SPL and ERC-20. Because the retained explicit contract and platform fields point to BNB/BEP-20, the parent-chain classification follows BNB. APPX inherits security, transaction processing, block production, and consensus from its parent-chain infrastructure rather than operating validators, miners, staking, or full nodes of its own.

The main use case is tokenized real-world asset access: eligible crypto-market participants can gain indirect exposure to AppLovin Corporation Class A common stock through a transferable blockchain token. Kraken describes the product as backed 1:1 by actual AppLovin shares held by a third-party custodian. The asset is listed across several centralized exchanges in the verified data, including Kraken, Bybit, Bitget, Binance, Coinbase, and KuCoin, with decentralized availability through Uniswap. Verified wallet support is limited but includes Ledger and Argent.

APPX does not have a native mining emission schedule, staking reward program, or blockchain monetary policy. Its supply is tied to tokenized certificate issuance rather than block rewards. The supplied market snapshot listed a price of $606.32, market capitalization of about $106.81 million, 24-hour volume of $4,977.27, total supply of 176,161.90, and circulating supply of 583.57. No initial public distribution percentage, ICO allocation, or premine percentage was provided, and the DScore extraction notes that APPX was not a fair-mined public blockchain launch.

Governance is best understood as centralized issuer administration rather than DAO governance. No APPX-specific CEO, founder, on-chain voting mechanism, community-governed treasury, public roadmap, GitHub repository, protocol upgrade process, or development fund was identified in the supplied materials. Security incidents, chain freezes, and node counts are not applicable to APPX as a tokenized certificate, and no APPX-specific hack or enforcement action was documented in the provided source summaries.

## Links
- Website: https://assets.backed.fi/products/applovin-xstock
- Whitepaper: N/A
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore